Cryptocurrency

[scooterscot]

Just wait...

Good time to get on with life and focus on work for the next couple of months.

Stupid volumes trying to buy into TRX at the minute on Binance.

[ChimpMaster]

Just wait...

Good time to get on with life and focus on work for the next couple of months.

Stupid volumes trying to buy into TRX at the minute on Binance.

Yes one of them was me....

Another £120 in.... bosh

[Hobosapien]

Are there any other possible reasons than the three I've listed below for the alts to generally all move in the same direction as bitcoin when the whole market appears to rise or fall in exact unison? i.e Currently all down about 10% or more in last 24 hours.

Reason 1: Alts are tied to BTC due to exchange pairings so when BTC rises/drops so do all the alts.

Reason 2: There are trading bots moving the entire market in unison.

Reason 3: Whales in a paddling pool. One strong movement by a major player and the whole market feels it.

"There she blows!"

[Jog On]

Are there any other possible reasons than the three I've listed below for the alts to generally all move in the same direction as bitcoin when the whole market appears to rise or fall in exact unison? i.e Currently all down about 10% or more in last 24 hours.

Reason 1: Alts are tied to BTC due to exchange pairings so when BTC rises/drops so do all the alts.

Reason 2: There are trading bots moving the entire market in unison.

Reason 3: Whales in a paddling pool. One strong movement by a major player and the whole market feels it.

"There she blows!"

I think it's just panic - people seeing the charts are selling their alts to get to BTC to sell that go get back to FIAT. It's crossed my mind several times a day to do the same since it started tanking.

I'm still considering it if we get a decent B wave before the next big down move. Would be nice to have a chance to cash out ready to buy back in at lower levels. Needs to be quite a bit higher than it all is now though and I need to be at my home PC with nano etc at the right time...

Resigned to just hodling and focusing on other things if it's a case of waiting it out for a while.

[mattfx]

24 Hours of Mining Update

24 hours of mining with my rig and so far I have achieved $15 worth of Ethereum. Should be looking at approximately $420-$450 over the course of 30 days if my hash rates stay the same and the difficulty doesn't do anything screwy. As we all know by now though, the long term aim is coin accumulation so I won't be cashing it out.

Additionally I discovered last night you can dual mine ETH and SIA together. Having read about the SIA project I actually think it sounds quite interesting and definitely has potential, so currently am mining both together. the SIA thing really is a punt, but it doesn't drop the hash rate on the ETH very much and allows me to spread my investment across two currencies. If SIA blows up and goes above say, $2 per coin, it'l be a decent win. If it doesn't, nothing really lost because i'm still heavily into ETH.

People need to get on this - it's entirely passive income you don't need to do ANYTHING other than watch your wallet takings increase. Worst case scenario if a proper market crash starts you still have all the value of the components to sell on - thus exposure is almost nil.

[Hobosapien]

I just can't see how panic, and hence people with 'weak hands', would explain pretty much all the alts dropping at similar rates to bitcoin. The panickers are unlikely to have diversified into that many alts, so would expect maybe the more highly speculative ones to be affected more than the higher market cap longer established ones, or vice versa.

More likely market manipulation going on to some degree.

Edit: Looking at the coinmarketcap list, only Walton (2%), PIVEX (31%) and Cryptonex (21%) are green (in last 24 hours). How come they are immune to the cross the board falls at the moment?

[FrontEnder]

People need to get on this - it's entirely passive income you don't need to do ANYTHING other than watch your wallet takings increase. Worst case scenario if a proper market crash starts you still have all the value of the components to sell on - thus exposure is almost nil.

I think this i a bit of a bold assumption. If the market crashes, the second value of the comments will probably be a lot less too. No one is going to want to get into mining and no one will want to buy a second hand GPU that has been hammered by mining .

[Hobosapien]

I think this i a bit of a bold assumption. If the market crashes, the second value of the comments will probably be a lot less too. No one is going to want to get into mining and no one will want to buy a second hand GPU that has been hammered by mining .

Does the warranty cover burn out from 24/7 maxing out/overclocking, or is it like remapping turbo cars where it is expected to put so much stress on the components that they will fail prematurely, or at least void any warranty should a related failure occur?

Safer to get a part time job as sys admin for a company or university with lots of servers currently under utilised.

[FrontEnder]

Does the warranty cover burn out from 24/7 maxing out/overclocking, or is it like remapping turbo cars where it is expected to put so much stress on the components that they will fail prematurely, or at least void any warranty should a related failure occur?

Safer to get a part time job as sys admin for a company or university with lots of servers currently under utilised.

I've no idea. I'd guess any warranty is only a year anyway. The point being though that the second hand market for this equipment is only good right now because mining is profitable.

[Hobosapien]

If mining is profitable why aren't the gfx card manufacturers doing the mining themselves? It would be even more profitable for them.


Apparently the hashrate has increased 20% recently, so the anticipated rise in difficulty level will mean the miners need to double down on the hardware to keep up.

Shares in gfx card manufacturers must be on the up too. Until it all gets too much for home amateurs and they go back to relying on gamers.